A quitclaim gives the new owner no legal recourse against the grantor if the property has an issue. Two or more parties who are in a personal or professional relationship tend to use quitclaim deeds, often when the property isn’t sold. Yet these two deeds are very different.Ī quitclaim deed, or a non-warranty deed, offers much less legal protection than a warranty deed. Warranty deeds and quitclaim deeds are often used in conjunction with one another. It is necessary to use a warranty deed to secure the grantee’s legal ownership and claim to the property. In a warranty deed, one will include a legal description of the property, the name of the person transferring the property (grantor), the name of the person taking ownership (grantee), and details of the ownership transfer.
A warranty deed states that a property owner has sole claim to the property – in other words, that no other entity has a lien on the piece of land or home.
A warranty deed is a legal document that people use to transfer property.
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